Price for Milking Machines and Dairy Machinery in Panama - 2023

Contents:

1. Price for Milking Machines and Dairy Machinery in Panama (CIF) - 2022
2. Price for Milking Machines and Dairy Machinery in Panama (FOB) - 2022
3. Imports of Milking Machines and Dairy Machinery in Panama
4. Exports of Milking Machines and Dairy Machinery in Panama

Price for Milking Machines and Dairy Machinery in Panama (CIF) - 2022

The average import price for milking machines and dairy machineries stood at $3,953 per unit in 2022, which is down by -12.2% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 an increase of 57%. The import price peaked at $5,175 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($5,707 per unit), while the price for China ($2,076 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+47.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Milking Machines and Dairy Machinery in Panama (FOB) - 2022

The average export price for milking machines and dairy machineries stood at $6,998 per unit in 2022, approximately equating the previous year. Over the period under review, the export price saw strong growth. The growth pace was the most rapid in 2014 an increase of 56% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($7,305 per unit), while the average price for exports to Jamaica totaled $6,282 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Milking Machines and Dairy Machinery in Panama

In 2022, overseas purchases of milking machines and dairy machineries decreased by -20.5% to 298 units, falling for the second consecutive year after two years of growth. In general, total imports indicated a moderate expansion from 2019 to 2022: its volume increased at an average annual rate of +3.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -40.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 85%. As a result, imports reached the peak of 501 units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, milking machines and dairy machinery imports contracted significantly to $1.2M in 2022. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 191%. As a result, imports reached the peak of $2M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Top Suppliers of Milking Machines and Dairy Machinery to Panama in 2022:

1. Free Zones (76.0 units)
2. Italy (46.0 units)
3. Germany (46.0 units)
4. Brazil (33.0 units)
5. Poland (28.0 units)
6. China (17.0 units)
7. United States (13.0 units)
8. Mexico (1.0 units)
9. Costa Rica (1.0 units)
10. Spain (1.0 units)

Exports of Milking Machines and Dairy Machinery in Panama

In 2022, shipments abroad of milking machines and dairy machineries decreased by 0% to 10 units, falling for the second year in a row after two years of growth. In general, exports showed noticeable growth. The most prominent rate of growth was recorded in 2020 when exports increased by 256% against the previous year. As a result, the exports attained the peak of 32 units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, milking machines and dairy machinery exports amounted to $70K in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 265% against the previous year. As a result, the exports reached the peak of $140K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Milking Machines and Dairy Machinery from Panama in 2022:

1. Colombia (7.0 units)
2. Jamaica (3.0 units)

Source: IndexBox Market Intelligence Platform